Turkish Petroleum (TPAO) has signed a partnership agreement with Shell to conduct oil and gas exploration activities in the Khan Tervel Field located in Bulgaria’s exclusive economic zone, marking its latest move to expand internationally.
Under the deal, TPAO will join Shell in exploration operations under the Block 1-26 Khan Tervel Field Oil and Natural Gas Exploration License. The area spans slightly more than 3,800 square kilometers and is located close to Türkiye’s Sakarya Gas Field in the Black Sea.
“Building on the cooperation we started with Shell in 2024, we have now signed a partnership agreement for a specific block in the Khan Tervel Field, located in Bulgaria's exclusive economic zone,” said Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources.
Bayraktar added that the partners will initially conduct seismic activities under a five-year license before potentially drilling an exploration well.
“This area is quite close to our Sakarya Gas Field. In this field, located in Bulgaria's exclusive economic zone, we will have a five-year license for seismic activity in partnership with Shell and then, hopefully, an exploration well here next year,” added Bayraktar.
The agreement follows other international deals signed by TPAO this year, including agreements with ExxonMobil on January 8, Chevron on February 5 and BP on February 12, as the company continues to expand its exploration portfolio abroad.